Top 5 Free or Affordable HR Analytics Tools for Small Business
Big data and HR analytics are transforming the HR world. Guess-work and gut instinct are now being cast aside and no longer form a suitable basis for HR decision-making.
Companies like Google, Xerox, Amazon and Gap are leading the way in putting HR analytics at the heart of their corporate decision-making.
Google’s now famous Project Oxygen involved them examining 10,000 performance review observations and came up with a statistically derived ideal manager profile, named 8 Behaviours for Great Managers.
When Google applied this model to their training and development processes, they saw a 75% improvement in management quality for under-performing managers. The Google People Analytics team also produced an algorithm to enable them to short-list high potential candidates and one which also predicts when people are likely to quit, enabling to do more effective planning. This is just the tip of the iceberg with Google and the rest of the industry. We are entering a new era of HR which puts data-driven insights and not guesswork at the heart of HR strategy. Here’s 5 top free or affordable HR analytics software tools for small business.
1. CrunchHR. This is a best-of-breed online solution for work-force reporting and people analytics, and is currently being used by the likes of Randstad and PwC. It provides a highly automated, analytical reporting architecture for key areas including: organization, workforce, succession planning, and talent. Typical reports that this system will output for you are: prediction of work-force supply and demand based on your data and business scenarios, competency gaps and action plans for sourcing and development, headcount, characteristics and structure of your organization, talent at risk. Try it out now.
2. StaffTRAK Hiring Dashboard, the smart excel template
Monitor KPIS and Optimize Your Recruitment process with this Hiring Digital Dashboard Excel Template for Recruiters. Monitor all the important hiring KPIS, including average time-to-hire, average cost-of-hire, number of open positions, number of applicants to hire, best sources of hire, reasons for rejection and active candidates. Drill down stats show active candidates at each stage of the hiring process. Use these statistics to identify bottlenecks, overspend, inefficient screening, over interviewing you can quickly target corrective strategies, to make business cases for investment to decision-makers and to ultimately optimise your hiring process.
Click to view or buy StaffTRAK Hiring Dashboard, the smart excel template
3. StaffTRAK HR Database and Dashboard This is an innovative and affordable Excel Based HR system designed for small companies with up to around 20 to 30 staff who don’t want the hassle and expense of subscription software.
This small smart Excel HR template comes loaded with time saving macros and formulas, to manage staff information and report on HR Key Performance Indicators at fraction of the cost of subscription software. It will give you an up-to-date view of your employee performance, attendance levels, average tenure and many other KPIs. Click here to find out more or try StaffTRAK HR Dashboard and Database.
4.Visier. This is a market-leading, best-of-breed, cloud solution for people analytics and work-force planning. It answers hundreds of pre-built, best practice questions, across a range of HR and topics. A typical question might be, ‘What are the key attributes of top talent software developers?’ .It comes with new product enhancement every quarter so this is a tool that will stay ahead of the game.
4.TalentSoft. This is another marketing-leading HR analytics product. It comes with a range of pre-packaged dashboards based on their own expertise but it’s also easy to develop custom dashboards in the system to suit your specific needs. It is perhaps one of the more user-friendly offerings out there, coming with a drag and drop interface. Try it out now.
5..Aurion Analytics. This is another high quality, HR analytics software tool. Standout features are, a dashboard library which captures historical data and can also forecast using data from it’s product suite
6.SumHR – HR Analytics. This analytics module offers comprehensive, analytical HR data powerful enough to support complex HR decision-making. It includes a HR digital dashboard for employees, managers and admins. Staff can see snapshots of key trends such as attendance logs, leave statistics, habits, ranking etc… using their dashboard.. Managers get a full summary of their teams attendance stats etc. While admins get a birds eye view of all HR stats such as new joiners, daily attendees, leave trends etc…
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